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Iowa Congressman concerned Biden IRS plan targets farmers
A member of the House Agriculture Committee is concerned about the Internal Revenue Service targeting farmers.
Randy Feenstra is a Republican from Iowa.
“The good thing right now is in the last social spending bill, capital gains and stepped up basis (changes) are not in that bill. However, there are issues I think we have to be very watchful of and that is the weaponization of the IRS.”
He says the agriculture community does a great job of utilizing the tax system to remain profitable.
“But when you weaponize the IRS, we have seen through the years (and) history tells us that they typically go after the ag industry. And that’s what I’m so concerned about.”
Feenstra says President Biden’s proposal to expand IRS enforcement in the Build Back Better Act framework intrudes on private financial information and unfairly targets those who don’t rely on a payroll system, including farmers.
